Credit card EMI question!

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romilq239

If I buy an item on Flipkart today for lets say 30k and select 12 months EMI on payment page and the billing date is 25th, what happens if transaction is not converted to EMI before billing date ? Do I need to pay full amount ? Sorry for noob question!

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You'll have to pay the entire amount at first and claim a Credit Balance refund (adjusted amount) after the statement is generated as the EMI conversion will reflect in the next statement. 

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Ransome wrote:

You'll have to pay the entire amount at first and claim a Credit Balance refund (adjusted amount) after the statement is generated as the EMI conversion will reflect in the next statement. 

Will they give the credit balance refund easily back to bank account ? And since EMI was selected during Flipkart transaction it means 100% EMI conversion will take place right in case full bill is generated ?
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romilq239 wrote:
Will they give the credit balance refund easily back to bank account ? And since EMI was selected during Flipkart transaction it means 100% EMI conversion will take place right in case full bill is generated ?
Yeah, they'll credit it to your bank account but you might have to wait for the 2nd statement and then only claim it as the statement must reflect the EMI conversion. 
And, yeah, if you select EMI as the payment method then irrespective of the date of the conversion (or the statement generation date), the bank will convert the entire amount into EMIs even if it doesn't show in the upcoming statement. As I mentioned above, you might have to pay the entire amount at first but can claim the adjusted amount later. 

Just take screenshots during the payment of the product. 

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Ransome wrote:
Yeah, they'll credit it to your bank account but you might have to wait for the 2nd statement and then only claim it as the statement must reflect the EMI conversion. 
And, yeah, if you select EMI as the payment method then irrespective of the date of the conversion (or the statement generation date), the bank will convert the entire amount into EMIs even if it doesn't show in the upcoming statement. As I mentioned above, you might have to pay the entire amount at first but can claim the adjusted amount later. 

Just take screenshots during the payment of the product. 

Thank you. KG+
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They told me to pay only the min due + any other non emi purchases


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EkdamSastaRaju wrote:

They told me to pay only the min due + any other non emi purchases


Just called the customer care and they told me something similar. Couldn't understand it clearly. Par suppose bill pura 30k ka generate hua aur minimum due is 3k which is the EMI, and we pay just the EMI, to koi extra charges na laga de remaining amount pe :>
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romilq239 wrote:
Just called the customer care and they told me something similar. Couldn't understand it clearly. Par suppose bill pura 30k ka generate hua aur minimum due is 3k which is the EMI, and we pay just the EMI, to koi extra charges na laga de remaining amount pe :>
Yes I was charged extra but it was reversed 
Always have written confirmation  
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When the txn is converted to emi, you should get a credit on the card account, credit balance and dues will get revised. Once the emi is done , call up cc. You should pay only the 1st emi and some more I think.

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